Job ID: 528425
Location: Victoria Island, Lagos
Full/Part Time: Full time
- The Business Operational Risk Manager represents the Transaction Banking business as a First Line of Defence, implements the Standard Chartered Operational Risk Framework (ORF), and supports the Group’s Operational Risk strategy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level.
Key Roles and Responsibilities
The Business Operational Risk Manager must focus on Transaction Banking controls, governance and supervision at all times, and:
- Ensure that all material operational risks are identified, assessed, mitigated, monitored and reported to relevant governance forums, and ensure all practical efforts are taken to ensure a satisfactory (impeccable) auditable environment in country, at all times
- Manage the Transaction Banking Business Operational Risk Forum (BORF) in the country. Ensure absolute adherence to country BAU OR deadlines, and effective business escalation from BORF to the Country Operational Risk Committee (CORC), Process Governance Committee, and Group Business Risk Committee (GBRC)
- Effectively manage the FORM agenda in country, along with peer reviews in the TB business in the front office. This can, potentially, involve travel to other markets (typically within the region), in order to conduct reviews and share of best practices
- Raise Awareness of TB staff across all segments on business controls, governance and supervision, and ensure an appropriate culture amongst all staff in this regard
- Be the go-to person for the business for all operational risk related incidents/queries/events that arise.
- Identify non standard processes and ensure appropriate control mechanisms are implemented and/or approved
- Coordinate with stakeholders in country/countries, across the region and group, and with other TB Operational Risk Managers and Business Managers, in order to increase transparency and share key learnings and best practice
- Challenge processes, procedures and policy where there is a more effective way to do things
- Escalate issues, blockages, challenges and trends to the Regional Business Head, Product Managers, COOs and TB Country Heads when required
- Monitor the effective communication and implementation of regulatory changes.
Risk Identification and Control Effectiveness:
- Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational TB Front Office Risk exposures. Assist in the identification of thematic risks and the implementation of appropriate controls to mitigate those risks
- Liaise with TB staff as required to ensure that Residual Risk Acceptance Requests are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for approval before submission to BORF, for subsequent support and acceptance in the CORC, PGC and/or GORC
- Perform risk assessment and measurement, with deep dives as appropriate, to facilitate the implementation of appropriate controls to enable the avoidance and/or acceptance of risks, and perform associated risk monitoring
- Assist relevant stakeholders within the business and across functions with the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring the proper functioning of embedded and periodic controls.
- Responsible for the implementation and execution of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards, and facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the process owner, ensure sign off on all new and amendments to existing CST’s and that these are tabled at BORF and other governance forums, as appropriate
- Responsible for recording and maintaining Front Office risks in the risk tracking system (Phoenix). Responsible for ensuring the quality of information being recorded, as well as ensuring data accuracy, completeness and timely resolution
- Drive improvement to OR processes - conduct regular reviews for suitability and coverage and propose amendments/enhancements, as appropriate
Loss Reporting and Investigation:
- Responsible for recording operational errors that occur within the business that result in financial losses, gains, near misses, reputational damage or danger to people and/or our reputation. Ensure that significant operational losses are escalated with the appropriate, detailed and accurate root cause analysis completed
- Be the source of reference within the business for facilitating/promoting the understanding of Operational Risk
- Identify knowledge gaps, and recommend relevant business training on Operational Risk.
- Coordinate and lead the identification, presentation and resolution of TB risk issues through local business risk forums (BORF/ CORC) to ensure there is adequate governance and oversight of TB risk. Escalate to product/business PGCs as appropriate
- Support TB Country Heads; with appropriate governance metrics; in developing high levels of front office awareness and ownership in country; and by ensuring operational risks are retained within the appropriate risk tolerance
- Identify and ensure delivery of business level training
- Develop BORM brand and lead by example
Audits and Reviews:
- Conduct periodic reviews on Operational Risk controls; periodically complete TB Front Office Self-Assurance Framework (FOSAF); submit review reports, and follow-up with the business for timely closure of any identified risks/issues
- Ensure and conduct the appropriate level of review findings ripples to countries and regions to support development of best practice awareness
- Ensure timely communication of new/revised external regulations, and internal policies.
- Ensure deep understanding of the impact of such regulations/policies on the local business and adjust controls and oversight accordingly
- Business Unit Heads
- Senior Operational Risk Officer(s)
- Country Audit Team
- Compliance/FCC Cash Management, Securities, Trade, Physical Commodity Operations and Client Services Group
Qualifications and Skills
- Minimum of a second class Degree from a reputable university
- Knowledge of Transaction Banking products essential
- Relevant business/function experience in operations, business analysis or project management
- Clear understanding of the Bank’s Operational Risk Framework or equivalent experience gained in other organizations
- Sound judgment with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships
- Strong analytical skills, detail-focused with the ability to interpret large amounts of information
- Problem solving skills with ability to influence at all levels of the business
- Ability to work independently with minimum supervision.